Huh? Why so excited about notes being legal tender?

According to the Reserve Bank “legal tender” only means it is

a legally defined means of settling a debt. A creditor is not obliged to accept legal tender, but cannot further pursue the debt if the offer of legal tender is refused

Yes, well of course. It’s obvious really isn’t it. How did I miss that? Here was me talking about making spending decisions on behalf of my family and all the time it’s all about who actually owns the money. I feel so stupid, I was discussing politics on a political blog and all the time the legal issues associated with currency were eluding me.

Sorry northpaw, I’ll try harder to keep up with next time.

folks very good, and simple, on the topic I thought I’d raised.

Because of the intemperate and misplaced language about socialists didn’t get it when just one look at a kiwi banknote reading — This note is legal tender for — tells me it is you, burt, who does not get it. In refering to “my money” and exuding personal attitudes about it..

In the production of goods and services much if not mostly social content: slamming that component is a long way from smart.

Let’s put this down to the festive season when I allowed also for the other possibility of “my money” as stated by you. Like in the wiki’s B52s ‘Whammy’ album entry —

Lyrically, Legal Tender is an adventure in the counterfeiting of American dollars. The lyrics describe kitting out a basement with “heavy equipment”, and learning to print bills because of rising prices.

Suffice to say, burt, that your response hath convinced me of your innocence abroad in respect of such occupation

Have a good holiday and festive season with many useful decisions for your family. To whom also I wish a happy New Year!

It’s possible (but I could be wrong) that such a protest here would be against the current govt. Dissent is not usually endorsing something. People seldom riot in support of something. But hey, what would I know.

Em. Hows about this as an option for what to do? No? How about in 12 months then? 2 years?

Well perhaps it would be viable in 12 months but in 2 years there could be issues. You see the problem will be that if National don’t repeal Labour’s EFA then I don’t imagine thousands of people will want to take to the streets with their full name and residential address on their protest material. Privatisation is undeniably govt policy and therefore to express an opinion on it during the full year election period (which will have started again in 2 years) will be problematic.

Activism is a good thing, don’t get me wrong on that the problem is that when the govt seeks to shut it down and you support that because it’s “your party’ that are crushing dissent you then need to accept that when you are dissenting you will be shut down.

Are you prepared to publish your full name and address to protest about privatisation or are you prepared to be fined and/or sent to jail for not doing so?

Perhaps you personally don’t support the EFA but be careful because the authors of the standard think it’s a great thing well they did when it was working for Labour’s best interests, they might have changed their minds since the election.

I guess they should be shown some leniency given the way Cullen and Clark have stolen from the tax payer for the last nine years.

[lprent: Doing a 4 fold increase in the numbers from the reports I read yesterday? And a standard troll line. You obviously don't want to be here - take a 4 week ban and contemplate why I detest trolls. BTW: with that pseudonym you picked up extra. It is like fairfacts media - you have to live up to the name. ]

[lprent: Incidentally, while looking back in your comment history. I was vastly amused to see you say this to SP
From what I can see you are very good at telling endless lies and half truths about the Nat's yet you take exception (in a rather juvenile way it must be said) to the truth being told about Labour.
bb: I think that you were projecting yourself on to SP]

burt,

And why not? New Zealand is a pretty civilised place to live. I’m happy here; care to name some place else where you might be a more contented taxpayer? What would you be contented with?

You remind me of those types who always demand top service at the lowest cost, always knowing the price of everything and the value of nothing.

No? How about in 12 months then? 2 years?

More here http://libcom.org/tags/greece-unrest

I think I have a better grasp of what my families needs are than the govt with regard to quality of essential social services. Social services which I can also purchase privately. I appreciate this is not true of the entire population.

I’m a compliant tax payer, that is a legal requirement. I’m not a contented tax payer and are you suggesting that is a moral requirement?

a response and a thank you..

the first to:—he just couldn’t trust us with our own money – fricken socialists just don’t get it do you – being, your own money, huh, like you’re some legit treasury.. why not tell us about it!

and the second being — -I know what is best for me for its perfect definition of a me-firster. For all here to see.

the best thing to beat uncertainty is certainty..

While the opposite is happening in China right now. With no social safety net to speak of the Chinese people have traditionally been fervent savers, knowing that if anything went wrong, or merely if they lived into old age, they could only depend on themselves and their family.

So while China could aggressively attack export markets and grow dramatically while those markets were bouyant; now those markets have slowed, the Chinese govt has only a weak domestic economy to fall back on. Instead of spending the money they earn, the Chinese save virtually all their discretionary cash. The Chinese economy faces a very hard landing as a result.

Excess debt and excessive saving both come at a price. Somewhere in between there must be a virtuous medium.

I’m pretty much in the same boat with regards to debt. I’m nominally worth several million in equity and my total monthly income is close to $10k, but I drive a 1994 model Peugeot 405 diesel that I forget when I last filled it and have zero, read zero, credit or HP debt. My mortgages are being paid down as fast as my cash flow permits. The house I am living in does not even have a hot water cylinder because I’ve put the cash into productive expenditure first.

But you also know perfectly well that it is foolish to project from the specific case to the general one. In the last decade NZ went on an unprecendented credit expansion spree and now faces the bill. You cannot blame Dr Cullen for that.

Dr Cullen did the saving that as a nation we were incapable of doing for ourselves.

Yeah right – he just couldn’t trust us with our own money – fricken socialists just don’t get it do you – I know what is best for me – not Dr. Cullen. We will always be a country of “hopeless savers” while the govt do it for us.

One day we will all look back and wonder how we ever managed to breath without Dr. Cullen calling the timing for us.